Dock Street Asset Management Inc. Reduces Stock Position in Costco Wholesale Corporation $COST

Dock Street Asset Management Inc. lessened its stake in shares of Costco Wholesale Corporation (NASDAQ:COST) by 16.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 341 shares of the retailer’s stock after selling 68 shares during the quarter. Dock Street Asset Management Inc.’s holdings in Costco Wholesale were worth $338,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Fishman Jay A Ltd. MI boosted its holdings in shares of Costco Wholesale by 3.5% during the 2nd quarter. Fishman Jay A Ltd. MI now owns 16,888 shares of the retailer’s stock valued at $16,718,000 after acquiring an additional 575 shares during the last quarter. Independent Solutions Wealth Management LLC lifted its stake in shares of Costco Wholesale by 0.3% in the 2nd quarter. Independent Solutions Wealth Management LLC now owns 20,638 shares of the retailer’s stock worth $20,430,000 after purchasing an additional 53 shares during the period. Personal CFO Solutions LLC lifted its stake in shares of Costco Wholesale by 12.4% in the 1st quarter. Personal CFO Solutions LLC now owns 1,519 shares of the retailer’s stock worth $1,436,000 after purchasing an additional 167 shares during the period. Graybill Wealth Management LTD. bought a new position in shares of Costco Wholesale in the 1st quarter worth approximately $3,095,000. Finally, Rossmore Private Capital lifted its stake in shares of Costco Wholesale by 0.9% in the 1st quarter. Rossmore Private Capital now owns 6,687 shares of the retailer’s stock worth $6,325,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 68.48% of the company’s stock.

Insider Activity at Costco Wholesale

In other news, EVP Russell D. Miller sold 3,381 shares of Costco Wholesale stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $915.00, for a total transaction of $3,093,615.00. Following the sale, the executive vice president owned 9,740 shares in the company, valued at $8,912,100. This trade represents a 25.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Teresa A. Jones sold 600 shares of Costco Wholesale stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $992.05, for a total transaction of $595,230.00. Following the sale, the executive vice president owned 2,362 shares in the company, valued at approximately $2,343,222.10. The trade was a 20.26% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Costco Wholesale Trading Up 0.9%

Costco Wholesale stock opened at $954.99 on Thursday. The stock has a market cap of $423.23 billion, a P/E ratio of 52.44, a PEG ratio of 5.74 and a beta of 0.98. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 0.55. Costco Wholesale Corporation has a 1 year low of $867.34 and a 1 year high of $1,078.23. The firm’s 50 day moving average price is $951.44 and its 200-day moving average price is $971.75.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings data on Thursday, September 25th. The retailer reported $5.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.81 by $0.06. The firm had revenue of $86.16 billion for the quarter, compared to analysts’ expectations of $86.01 billion. Costco Wholesale had a net margin of 2.94% and a return on equity of 30.09%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $5.15 earnings per share. On average, equities analysts predict that Costco Wholesale Corporation will post 18.03 earnings per share for the current fiscal year.

Costco Wholesale Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 31st will be given a dividend of $1.30 per share. The ex-dividend date is Friday, October 31st. This represents a $5.20 annualized dividend and a dividend yield of 0.5%. Costco Wholesale’s dividend payout ratio (DPR) is presently 28.56%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Argus increased their price objective on shares of Costco Wholesale from $1,170.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Daiwa Capital Markets lowered their price objective on shares of Costco Wholesale from $1,005.00 to $947.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 30th. Truist Financial lowered their price objective on shares of Costco Wholesale from $1,042.00 to $1,033.00 and set a “hold” rating on the stock in a research note on Friday, September 26th. The Goldman Sachs Group increased their price objective on shares of Costco Wholesale from $1,333.00 to $1,418.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Finally, Erste Group Bank cut shares of Costco Wholesale from a “buy” rating to a “hold” rating in a research note on Tuesday, August 5th. Twenty equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,068.04.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.